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Competition in the Evolving Digital Marketplace, Testimony of Geoffrey A. Manne

Economists have been studying antitrust since the very beginnings of the study of economics itself—Adam Smith even has a discussion on the subject in The Wealth of Nations. But economics—and by extension legal scholarship—has only come into its own and developed rigorous, sound and evidence-based analysis of the topic since about the 1970s. There is an enormous amount about the economic implications of business conduct that we still don’t understand (and some that we do seem to have a handle on), but our antitrust laws nevertheless obligate us to soldier on, developing sound expectations about the anti- or pro-competitive implications of various forms of business conduct nonetheless.